Al-Sudani: Investments in Iraq reached $100 billion in two years.
Shafaq News – Prime Minister Mohammed Shia al-Sudani said on Saturday that the government he heads truly believes in restructuring the Iraqi economy, which has been damaged by the wars and conflicts the country has witnessed. He emphasized that the volume of foreign and local investments has reached $100 billion in the past two years.
In a speech during the celebration of the Partnership Day between the International Finance Corporation and the Iraqi government, Al-Sudani said, “Since the beginning of this government’s work, we have been keen to strengthen our projects by utilizing international consulting expertise in planning and consulting for various projects. This certainly does not negate our national competencies in planning, implementation, and consulting, as much as it requires support.”
He added, “Our government truly believes in restructuring the Iraqi economy. Iraq cannot continue to rely solely on revenues to support the annual budget. We live in a world of change across all sectors: economics, politics, security, and even citizen demands, which have become a determining factor in the stability of any regime or state. We cannot delay meeting citizens’ needs, especially after years of delays due to wars and conflicts.”
Al-Sudani continued, “Our partner in realizing this vision is the private sector. It is the supporting partner in realizing our vision of restructuring the economy and enhancing its capabilities. We proudly say that our country is distinguished by the presence of distinguished capabilities from the private sector, which has proven an effective presence in many projects, enduring various conditions represented by bureaucracy, corruption at times, and obstruction. He emphasized that the private sector was present even in the presence of terrorism.”
He pointed out that the government’s measures to support the private sector and improve the investment environment were clear and led to the attraction of many international and regional companies to work on various projects. He added that the volume of foreign, Arab and local investments, the licenses granted and the companies that have begun implementing these investment projects have reached $100 billion in the last two and a half years.
The Prime Minister concluded his remarks by saying that the private sector has jobs equivalent to two ministries, and as a result, we rely on the private sector to provide job opportunities in Iraq.
Shafaq.com